§ Mr. Watkinsonasked the Minister of Agriculture, Fisheries and Food to what degree green rates of currency differ from 628W gross actual rates in each of the EEC communities and the EEC as a whole.
§ Mr. John SilkinI assume that my hon. Friend is referring to the difference between representative and market rates before the deduction of 1.5 percentage points which is made in the calculation of the monetary compensatory amounts (MCAs) of member States with free floating currencies and negative MCAs. On this basis and using the new representative rates agreed for the United Kingdom, Italy and France and the market rate used for calculating MCAs from 6th February, the percentage differences are
Benelux + 1.4 per cent. Denmark nil Germany + 7.5 per cent. Ireland - 3.6 per cent. Italy - 18.0 per cent. France - 18.5 per cent. United Kingdom - 20.9 per cent. To obtain a Community average these figures have been weighted by agricultural production weights. On this basis the Community average is—9.7 per cent.